The Real Success Comes Through Education

INTEREST CALCULATION INTEREST CALCULATION Interest calculation  is the mode of charge interest on whole or outstanding balance. There are two types of interest calculation:-              1)     Simple Interest Calculation              2)     Compound Interest Calculation Simple Interest Calculation : -  Simple Interest Calculation, interest is charged on outstanding balance at the same rate of interest. It is also of two types:-            a)      Simple   Outstanding Interest Calculation            b)      Simple   Invoicing Interest Calculation Compound Interest Calculation : - in Compound Interest Calculation, interest is charged on whole instalment at different rate of interest. It is also of two types:-            a)      Compound   Outstanding Interest Calculation            b)      Compound   Invoicing Interest Calculation The methods to record these interest calculations are given in the next topics. Follow that ste

SCENARIO MANAGEMENT SCENARIO MANAGEMENT When we want to see the effect of our non - accounting voucher or profit and loss and balance sheet then we use after creating scenario we get a duplicate copy of our profit and loss and balance sheet. Example :- ABC company purchase a Computer for Rs. 25,000 on 1-Apr-2014 and the trader wants to know cost of Computer on 31-Mar-2015. He charges depreciation @ 10% on it. Maintain this transaction. To maintain :- Create a company and then activate  “budget & control and reversing journal & optional”  as follow:- To Activate   Budget & Control and Reversing Journal & Optional : - G.O.T. (Gateway of Tally)-->  Press F11 (Company Features) -->  Press F1 (Accounting Features). Now create scenario as follow:- Path for Scenario creation : - G.O.T. (Gateway of Tally) -->  Accounts Info -->  Scenario -->  Create. After that create ledger as follow:- Path for ledg

ACTUAL AND BILLED ACTUAL AND BILLED It is used maintain all those transactions which are related with free item such as ‘buy one get one free’. Example :- Sony Pvt. Ltd. purchased 200 pieces of shirts for Rs. 40 per piece but bill payed only of 100 pieces of shirts. Maintain this transaction. To maintain :- Create a company and then activate actual & billed quantity as follow:- To activate actual & billed quantity : - G.O.T. (Gateway of Tally) -->  Press F11 ( Company  Features) -->  Press F2 (Inventory Features). After that, create stock master:- To Create Stock Group : - G.O.T. (Gateway of Tally) -->  Inventory Info -->  Stock Group -->  Create. To Create Stock Item : - G.O.T. (Gateway of Tally) -->  Inventory Info -->  Stock Item -->  Create. Now create ledger as follow:- Path for ledger creation : - G.O.T. (Gateway of Tally) -->  Accounts Info--> Ledger -->  Create (Single)